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Russia cut gas exports to Europe by 60 per cent today, plunging the continent into an energy crisis 'within hours' as a dispute with Ukraine escalated. This morning, gas companies in Ukraine said that Russia had completely cut off their supply.Six countries reported a complete shut-off of Russian gas shipped via Ukraine today, in a sharp escalation of a struggle over energy that threatens Europe as winter sets in.Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey all reported a halt in gas shipments from Russia through Ukraine. Croatia said it was temporarily reducing supplies to industrial customers while Bulgaria said it had enough gas for only 'for a few days' and was in a 'crisis situation'.

Russia cut gas exports to Europe by 60 per cent today, plunging the continent into an energy crisis 'within hours' as a dispute with Ukraine escalated. This morning, gas companies in Ukraine said that Russia had completely cut off their supply.Six countries reported a complete shut-off of Russian gas shipped via Ukraine today, in a sharp escalation of a struggle over energy that threatens Europe as winter sets in.Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey all reported a halt in gas shipments from Russia through Ukraine. Croatia said it was temporarily reducing supplies to industrial customers while Bulgaria said it had enough gas for only 'for a few days' and was in a 'crisis situation'.

The EU demanded the two sides reopen talks as the row immediately sparked fears of gas supply shortages and rising energy prices in the UK.The UK is suffering one of its coldest nights this century with temperatures plunging to as low as -10C.Though Britain is one of Gazprom's largest importers - relying on the company for some 16 per cent of consumption in 2007, according to The Times, the gas is supplied through a complicated swap scheme that means supplies themselves may not be affected.Prices, on the other hand, rose during trading in London today.

The Times goes on to say that Moussaoui’s testimony, if found to be factually accurate, could change our understanding of Saudi Arabia and its relationship to 9/11: [T]he extent and nature of Saudi involvement in Al Qaeda, and whether it extended to the planning and financing of the Sept. 11 attacks, has long been a subject of dispute. *** That may be so, but the Times, like the rest of the traditional media, has ignored earlier evidence of deep Saudi royal ties to the 9/11 attacks—evidence that isn’t dependent on a man whose sanity has been questioned. Back in 2011, a small non-profit news outfit in South Florida, the Broward Bulldog, which does primarily local stories, published an article that also appeared in a major traditional newspaper, the Miami Herald. Despite the story’s explosive content, it was widely ignored.

That article revealed that a well-heeled Saudi family, living in a gated community in Sarasota, Florida, had direct connections to the hijackers. Phone records documented communication, dating back more than a year, between this Saudi family and the alleged plot leader, Mohammed Atta, his hijack pilots and 11 of the other hijackers. In addition, records from the guard house at the gated community showed Atta and other hijackers had visited the house.

The family left the country abruptly just before the 9/11 attacks. Family members abandoned enough valuable possessions—such as three cars—to testify to the speed of their departure. The article also revealed that the FBI had quietly investigated the family and documented numerous interactions between them and the alleged hijackers. They, however, neglected to tell Congressional investigators and the evidence didn’t appear in the 9/11 Commission Report. You might think these revelations would attract widespread attention, considering that 15 of the 19 purported hijackers were Saudi citizens. Yet the Bulldog story generated barely a blip.

(Bloomberg) -- Help can’t come fast enough for Ukraine. Conditions are deteriorating so quickly that the International Monetary Fund’s $17.5 billion bailout, pledged less than two weeks ago, may no longer be sufficient. While Ukraine waits for the IMF loan, central bank Governor Valeriya Gontareva is tightening the amount of foreign currencies available to importers and banning banks from lending money for clients to buy currencies other than the hryvnia. More restrictions may follow as the country’s economy contracts amid a deadly conflict with pro-Russian rebels in the country’s east, Gontareva said Monday.

With its foreign reserves dropping 61 percent to $6.4 billion in the four months through January, the “cupboard is basically bare,” said Timothy Ash, Standard Bank Group Plc’s London-based chief economist for emerging markets. The hryvnia has fallen 71 percent against the dollar over the past year. Despite the IMF pledge, Ukraine hasn’t received a major injection of cash since a $1.4 billion IMF disbursement on Sept. 3, the lender’s website shows. Lawmakers in Kiev have yet to pass amendments to the budget needed to allow the new IMF program to begin. Disbursements could start a few weeks after the fund’s board approves the facility, which may take place this week or next, according to Ukraine’s Finance Minister Natalie Jaresko.

Ukraine’s $2.6 billion of 9.25 percent bonds due in July 2017, the sovereign’s benchmark security for foreign investors, fell 0.07 cent to a record 41.47 cents on the dollar by 11:30 a.m. in Kiev, taking its eight-day decline to 15 cents. The hryvnia weakened to an all-time low 32 per dollar, according to data compiled by Bloomberg. “The way things are going, the central bank may need to declare a moratorium on money leaving the country, perhaps through an interruption in debt servicing as Argentina did,” Richard Segal, head of emerging-markets credit strategy at Jefferies International Ltd. in London, said by phone Monday.

US President Barack Obama has issued an executive order declaring Venezuela a national security threat, and placed sanctions on seven officials. The White House says the new set of targeted sanctions excludes the Venezuelan people and any trade relations with the nation, and are instead specifically aimed at government officials the US accuses of violating human rights.

US policy toward Venezuela is a microcosm of its larger strategy toward Latin America. The intent is to reverse the region’s independent foreign policy and to restore US dominance; to curtail the diversification of trading and investment partners and re-center economic relations to the US; to replace regional integration pacts with US centered economic integration schemes; and to privatize firms partly or wholly nationalized.

The Islamic State's destruction of cultural antiquities in Iraq has stepped up a notch recently, with members of the extremist group both bulldozing the 3,000-year-old Nimrud archaeological site near Mosul and ransacking the similarly ancient ruins of Hatra in the past few days. Now, the United States' top military officer has said the U.S.-led coalition against the Islamic State would "consider" intervening to protect such sites. But Gen. Martin Dempsey stopped far short of any promises – and added that any action would have to "fit into the priority of all the other things we're being asked to do on behalf of Iraq." Dempsey – who was on a day-long visit to Baghdad, Iraq, during which he was joined by reporters including The Post's Missy Ryan – made his remarks after Iraq's antiquities ministry acknowledged reports of a third attack, on the ancient city of Dur Sharrukin, and called on the international community to intervene to stop the Islamic State from  “erasing the history of humanity.”

“We have warned previously and warn now that these gangs with their sick, takfiri ideology will continue to destroy and steal artifacts as long as there is no strong deterrent, and we still await a strong international stand to stop the crimes of Daesh that are targeting the memory of humanity," the ministry said in a statement published by the Guardian, using the Arabic acronym for the group. Separately, Iraqi Tourism and Antiquities Minister Adel Shirshab told reporters that only the U.S.-led coalition had the power to protect these sites. "Our airspace is not in our hands. It's in their hands," Shirshab said on Sunday, according to Reuters, alleging that coalition aircraft could have monitored attacks on archaeological sites and prevented them.

The U.S. government is well aware of the threat to antiquities posed by ongoing violence in Iraq and Syria – last year, the U.S. Department of State and the American Schools of Oriental Research (ASOR) signed a deal to document that damage caused to Syria's cultural heritage sites. There have also been a number of internal attempts in Iraq and Syria to defend sites that might be at risk, including the covert work of a group of preservationists dubbed modern-day "Monuments Men."

As the price of oil trades at a six-year low, there’s no consensus on what the rest of the year will bring for crude. But there are many different forecasts. Here are three scenarios being considered by commodity strategists.

A groups of nine activists today shut down a factory, one of two UK subsidiaries of Israeli arms firm Elbit. UAV Engines Limited, in Shenstone, Lichfield (40 minutes north of Birmingham), makes drone engines. According to the Campaign Against the Arms Trade, these have been exported to Israel.

C-Span Video Architects and Engineers for 9/11 Truth, which claimed that the World Trade Center was brought down by explosive demolition on September 11, 2001. The group was founded in 2006 and said its mission was to “expose the official lies and cover-up surrounding the events of September 11, 2001 in a way that inspires the people to overcome denial and understand the truth.” Broadcast August 01, 2014 - Posted August 03, 2014.

Palestinian boycott, divestment and sanctions (BDS) activists have welcomed the news that SodaStream has announced it is to close its factory in the illegal Israeli settlement of Mishor Adumim following a high profile boycott campaign against the company. “SodaStream’s announcement today shows that the boycott, divestment and sanctions (BDS) movement is increasingly capable of holding corporate criminals to account for their participation in Israeli apartheid and colonialism,” said Rafeef Ziadah, a spokesperson for the Palestinian Boycott, Divestment and Sanctions National Committee (BNC), the broad coalition of Palestinian civil society organisations that leads and supports the BDS movement. “BDS campaign pressure has forced retailers across Europe and North America to drop SodaStream, and the company’s share price has tumbled in recent months as our movement has caused increasing reputational damage to the SodaStream brand,” she added. The news of this major success against a company famed for its role in illegal Israeli settlements broke amidst intensifying demonstrations against Israel’s policies of colonisation in Jerusalem. Grassroots boycott activism saw SodaStream dropped by major retailers across North America and Europe including Macy’s in the US and John Lewis in the UK.

SodaStream’s participation in Israel’s forced displacement of Palestinians gained international notoriety when A-list celebrity Scarlett Johansson signed up to be a brand ambassador for the company. Following an international campaign urging Oxfam end its relationship with Johansson for endorsing SodaStream, the actor decided to quit Oxfam. SodaStream has also come under fire for its treatment of Palestinian workers in its West Bank factory, as Ziadah explains: “Any suggestion that SodaStream is employing Palestinians in an illegal Israeli settlement on stolen Palestinian land out of the kindness of its heart is ludicrous.” “Palestinian workers are paid far less than their Israeli counterparts and SodaStream recently fired 60 Palestinians following a dispute over food for the breaking of the Ramadan fast. Workers have previously said they are treated ‘like slaves’”. “Palestinians are forced to work inside settlements in sub-standard conditions because of Israel’s deliberate destruction of the Palestinian economy. There’s an urgent need for the creation of decent and dignified jobs within the Palestinian economy.”

SodaStream was forced to close its flagship store in Brighton in the UK as a result of regular pickets of the store. Soros Fund Management, the family office of the billionaire investor George Soros, sold its stake in SodaStream following BDS pressure. SodaStream’s share price fell dramatically in recent months as sales dried up, particularly in North America. After reaching a high of $64 per share in October 2013, the stock fell to around $20 per share this month. SodaStream has estimated its third quarter revenue will be $125 million, down almost 14 percent from the same period last year. But Ziadah warned that SodaStream will still remain actively complicit in the displacement of Palestinians in the Naqab and will remain a focus of boycott campaigning. “Even if this announced closure goes ahead, SodaStream will remain implicated in the displacement of Palestinians. Its new Lehavim factory is close to Rahat, a planned township in the Naqab (Negev) desert, where Palestinian Bedouins are being forcefully transferred against their will. Sodastream, as a beneficiary of this plan, is complicit with this violation of human rights,” she said.

Much of the comment on yesterday’s “decisive step” towards a “Joint Comprehensive Plan of Action” (JCPOA), which will ensure the exclusively peaceful nature of Iran’s nuclear program, has been based on the factsheet put out by the White House. I prefer to base a few observations on the Joint Statement made in Lausanne by the EU High Representative Federica Mogherini and Iranian Foreign Minister Javad Zarif. We can be sure that Iran has agreed to every word of the Joint Statement. The same cannot be said of the factsheet, which, in a slightly irritated tweet, Zarif characterized as “spin.” The Joint Statement is far less detailed than the fact-sheet. Even so, it is clear that Iran has had the vision to offer the US and EU many years of confidence that Iran is not using its nuclear know-how to acquire nuclear weapons and that Iran is fully respecting its commitments as a party to the Nuclear Non-Proliferation Treaty (NPT). That confidence can come both from the unprecedented access to the program that the inspectors of the International Atomic Energy Agency (IAEA) will enjoy and from the thought that no state bent on acquiring nuclear weapons would come close to granting such access.

Peter Jenkins was a British career diplomat for 33 years, following studies at the Universities of Cambridge and Harvard. He served in Vienna (twice), Washington, Paris, Brasilia and Geneva. He specialized in global economic and security issues. His last assignment (2001-06) was that of UK Ambassador to the IAEA and UN (Vienna). Since 2006 he has represented the Renewable Energy and Energy Efficiency Partnership, advised the Director of IIASA and set up a partnership, ADRgAmbassadors, with former diplomatic colleagues, to offer the corporate sector dispute resolution and solutions to cross-border problems. He was an associate fellow of the Geneva Centre for Security Policy from 2010 to 2012. He writes and speaks on nuclear and trade policy issues.

The President of the Czech Republic, Milos Zeman, responded to U.S. Ambassador Andre Shapiro’s comments on President Zeman’s visit to Moscow on V-Day by saying that Shapiro is not welcome at the Czech Presidential residence and that the Czech Republic has its own foreign policy. Czech President Zeman responded to the U.S. ambassador’s negative remarks in the official parliamentary online site, saying that the doors of the Prague Castle, the Czech Republic’s Presidential Residence are closed for Ambassador Shapiro.

Zeman stressed that he won’t have any ambassador to meddle in Czech sovereign affairs and the program of his visit to Moscow. During a previous TV appearance the Czech President stressed that his visit to Moscow, contrary to some claims would not undermine “the Wests position on Ukraine”. Zeman stressed the necessity to maintain and develop relations with Moscow, and not only relations based on trade, but also relations with regards to a strategic partnership. The Czech President’s response falls in line with a continuously growing continental European consensus that opposes the predominantly US/UK driven policy of tensions towards Russia. This growing consensus includes, among others, the Czech Republic, Slovakia, France, Germany, Austria, Switzerland and others.

In June 2014 both the Czech Republic and Slovakia opposed “suggestions” by U.S. President Obama to station NATO troops in the two countries. The U.S. initiative was attempted as the US stationed additional troops in Poland and the Baltic countries. It is also noteworthy that a 2014 poll revealed about half of the German population opposes NATO’s eastwards expansion that occurred after the German reunification and in violation of oral agreements. About half of the German population would prefer to see Germany as bridge with an equal distance to both the East and the West while about half of the German population does not perceive Germany as solidly anchored within NATO.

An Attempt to Uncover the Truth About September 11th, 2001 We all know the official story of September 11th: four jetliners were hijacked by groups of four and five Arabic men armed with box cutters, who proceeded to fly three of the four jets into the Twin Towers and the Pentagon. Subsequently the World Trade Center Towers, weakened by the impacts and fires, collapsed into piles of rubble. The FBI had compiled a list of hijackers within three days, and it was so obvious that Osama bin Laden had masterminded the operation from caves in Afghanistan, that there was no need to seriously investigate the crime or produce evidence. The "retaliatory" attack on the Taliban would soon commence. Is this story true? Its central assumptions have never been tested by an official government body whose members lack obvious conflicts of interest. There are numerous red flags in the official story, which requires a long series of highly improbable coincidences. Questioning that story is an act of responsible citizenship.

The European Union has issued new guidelines for the labelling of products from illegal Israeli settlements in the occupied Palestinian territories, after years of deliberation and in the teeth of fierce Israeli opposition. Binyamin Netanyahu, the Israeli prime minister, made a personal appeal to a number of key European figures in the runup to the decision, in which he said the plan was discriminatory, indicative of double standards, and would embolden those who seek to “eliminate” Israel. The measures will primarily cover fruit and vegetables and should affect less than 1% of all trade from Israel to the EU, which is worth about €30bn. EU officials said existing measures for produce brought into Britain have had no negative economic effect.

On some products, like fruit and vegetables, the labelling referring to settlements will be mandatory, while on others it will be voluntary. Israel sees the move as a political stigma that rewards Palestinian violence and will push consumers away. It immediately summoned the EU ambassador to Israel, Lars Faaborg-Andersen, in protest. The Israeli foreign ministry said the EU has chosen “for political motives, to take an unusual and discriminatory step” at a time when Israel is facing a wave of terror. In a statement, the ministry said it was “surprised and even angered by the fact that the EU chooses to implement a double standard against Israel, while ignoring 200 territorial disputes taking place today around the world, including within [the EU] or right on [Israel’s] doorstep”. The EU’s claim that the decision was a “technical step” was baseless and cynical, the statement added.

Despite insisting in public that the new guidelines provide clarity to consumers, European diplomats have privately made it clear the move is designed to put pressure on Israel over its continued settlement building in the occupied territories and the absence of a peace dialogue; a sharp rise in violence between Israelis and Palestinians has claimed 90 lives in the last month. Announcing the new guidelines, a European commission official said it had “adopted this morning the Interpretative Notice on indication of origin of goods from the territories occupied by Israel since June 1967”. Although the new guidelines are expected to have little real economic impact, they do carry a political significance for Israel, not least because of the widespread agreement among European governments over their implementation. The decision to push ahead with issuing the guidelines also marks the second major defeat in a year for Netanyahu on an international stage, following his defeat over the Iran nuclear accord, amid mounting evidence of Israel’s growing international isolation.

If there is any single price of any commodity that determines the growth or slowdown of our economy, it is the price of crude oil. Too many things don’t calculate today in regard to the dramatic fall in the world oil price. In June 2014 major oil traded at $103 a barrel. With some experience following the geopolitics of oil and oil markets, I smell a big skunk. Let me share some things that for me don’t add up. First appeared: http://journal-neo.org/2016/01/24/whats-really-going-on-with-oil/

Businesses should stop operating in, financing, servicing, or trading with Israeli settlements in order to comply with their human rights responsibilities, Human Rights Watch said in a report released today. Those activities contribute to and benefit from an inherently unlawful and abusive system that violates the rights of Palestinians. The 162-page report, “Occupation, Inc.: How Settlement Businesses Contribute to Israel’s Violations of Palestinian Rights,” documents how settlement businesses facilitate the growth and operations of settlements. These businesses depend on and contribute to the Israeli authorities’ unlawful confiscation of Palestinian land and other resources. They also benefit from these violations, as well as Israel’s discriminatory policies that provide privileges to settlements at the expense of Palestinians, such as access to land and water, government subsidies, and permits for developing land.

Crude climbed a second day after tumbling to a six-year low amid signs the U.S. may allow unfettered exports for the first time in 40 years.West Texas Intermediate rose 2.8 percent, adding to Monday’s 1.9 percent gain amid a broader rally of U.S. and European stocks. House Democrats are open to lifting the ban on American crude exports if they get adequate concessions in exchange, a Democratic leadership aide said Monday. U.S. crude supplies probably fell last week, according to a Bloomberg survey before government data on Wednesday.Oil is trading close to levels last seen during the global financial crisis this week after the Organization of Petroleum Exporting Countries effectively abandoned output limits in an effort to defend market share. Repealing the restrictions on shipping U.S. crude overseas could open new markets, buoying the price of domestic crude grades.

OPEC failed to agree to production limits at a Dec. 4 meeting, instead setting aside its quota of 30 million barrels a day until the next gathering in June. Members are showing “renewed determination” to maximize output, the International Energy Agency said in a report last week."We’re seeing bargain-hunting after nearly breaking through the December lows," said Tim Evans, an energy analyst at Citi Futures Perspective in New York. "Supply is still running ahead of demand and there will probably be more Iranian supply on the market early next year, so we’re still at risk of a further decline."

WTI may fall into the high $20s if tanks used to store crude start to fill up before producers sufficiently curb output, Citigroup Inc. Managing Director Ed Morse said. Brent would need to decline to about $30, he said.“The quarter ahead looks a good deal more bearish than the quarter just ending,” Morse said in a report. “The already oversupplied market now faces the imminent return of Iranian barrels and onshore storage capacity constraints look set to be tested in the first half.”

Swiss oil traders might have gotten themselves into some trouble after it was revealed that they regularly imported oil from terminals in Turkey, where Daesh, also known as ISIL/ISIS, sold their illegal oil supply, the Swiss newspaper Le Matin reported.The newspaper obtained documents showing that several major Swiss petroleum trading companies exported oil from the Turkish city of Ceyhan, one of the places in the country where Daesh-extracted oil was sold. "The risk [of Swiss companies importing Daesh-oil] is very high," said Jean-Charles Brisard, a French expert on terrorism financing, according to Le Matin. As Daesh sold oil for a cheaper price than its official market price, many customers didn't mind buying it, although there was an official ban to purchase oil from Daesh-controlled territories.

An investigation carried out by Le Matin shows that several Swiss companies recently purchased oil from the port of Ceyhan. Previously, it was reported that Daesh transports oil and petroleum products to Turkey using a complex system that involves a wide network of middlemen. Turkey has long been the main destination for petroleum products, stolen by Daesh from numerous oilfields in Iraq and Syria. In early December, the Russian Ministry of Defense released satellite images showing columns of trucks on their way from the territories controlled by the militants to Turkey.

Turkey has told the Reuters news agency that Russia has stopped work on its nuclear power plants.  In reality, the Turks are exaggerating.  The Russians haven’t really stopped—they have really only slowed down. It is another piece in the intensifying conflict that has enveloped Russia and Turkey over the downing of a Russian AU-24 slow moving bomber by a Turkish F-16 fighter jet. The nuclear deal began in 2013. The Turks promised to pay $20 billion and the Russian nuclear company Rosatom promised to build four 1,200 megawatt nuclear electrical power plants in Turkey. The first plant was scheduled to be opened in 2019, but from the very outset things have not run on schedule.  One reason is that the project confronted international regulatory problems.

The Russians have done this before—only with Iran.  They slowed down on the original proposal, Iran took the Russians to the World Court, and sued them. They wanted their nuclear plants.

Now, because of their experience with Iran, Russia realizes that stopping entirely would prove costly. Huge disincentives and penalties are built into the contract.  And Turkey has already started shopping around for someone else to finish the nuclear job. Good luck. Here is the crux of the problem and why Turkey can never win in this conflict with Russia. Turkey is almost totally dependent on imported energy. They have been counting on these nuclear plants and should be conducting back-door diplomatic negotiations to resurrect the deal , but they do not appear to be doing that. Tensions between the Turks and Russians do not seem to be dissipating. So much so that Russia has also stopped importing Turkish fruits and vegetables. The reason they give is poor Turkish sanitation and hygiene, but the real reason is because the jet shot down the bomber. This isn’t  just a case of no more Turkish pistachio nuts or dates. Turkish fruits and vegetables account for 20 percentof Russia’s total fruit and vegetable consumption. This is a huge loss for the Turkish economy.  A $4 billion annual loss in fruit and vegetable revenue. Russia has said they will easily make up the loss by importing more from Iran and Israel.

Russia may freeze work on the Turkish Stream gas pipeline project for several years in retaliation against Ankara for the shooting down of a Russian air force jet, two sources at Russian gas giant Gazprom told Reuters. The Kremlin has imposed trade sanctions on Turkey over the jet incident last week but so far the measures have not affected the Russian energy exports to Turkey that are the core of their economic relationship. Freezing work on the pipeline - intended to pump Russian gas, via Turkey, into southeastern Europe while bypassing Ukraine - would have a more symbolic than practical effect because the project is already beset by delays and doubts over its viability. Any freeze would also not affect another Russian project to boost gas exports to the north of Europe. Gazprom is going ahead with plans to expand the Nord Stream pipeline to Germany despite resistance from several ex-communist states in eastern Europe.

Gazprom sources said no decision had been taken inside the company about changes to the Turkish Stream schedule in response to the row with Ankara, but said they were awaiting instructions from President Vladimir Putin. "We're expecting that the head of state, in all likelihood, could declare a freezing of Turkish Stream, or at least some kind of timeout should be announced," said one Gazprom source, who spoke on condition of anonymity.